(PharmaNewsWire.Com, June 03, 2020 ) New market research report on “Inspection Machine Market by Product (Vision Inspection, Checkweigher metal detector , Software) Type (Automatic, Manual), Packaging (Ampoules, Vials, Blisters, Bottles), user (Pharmaceutical, Medical Devices, Food) — Global Forecast to 2024”, published by MarketsandMarkets™, the Inspection Machines Market is projected to succeed in USD 774 million by 2024 from USD 592 million in 2019, growing at a CAGR of 5.5% between 2019 and 2024.
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The increasing expenditure in medical manufacturing to make sure compliance with Good Manufacturing Practices and therefore the rising penetration of automation are a number of the main factors that are expected to drive the growth of this market during the forecast period.The introduction and implementation of numerous regulatory mandates in the healthcare sector and the adoption of new technologies in line with the increasing number of inspection checkpoints throughout the whole production cycle within the pharmaceutical and biotechnology sectors also are expected to support market growth within the coming years.
Vision inspection systems segment to account for the most important share of the Inspection Machines Market, by product
The vision inspection systems segment is predicted to account for the most important share of the Market, by product, in 2019. The high demand for inspecting components for size, shape, color, or reading in pharmaceutical, nutraceutical, chemical, medical device, and food & beverage industries is one among the main factors driving the growth of this segment.
Food processing & packaging companies to make the fastest-growing end-user segment within the Inspection Machines Market
Among all end-user segments, the demand for inspection machines is estimated to grow at the very best rate among food processing & packaging companies. This can majorly be attributed to the growing demand for processed foods, increasing consumer awareness regarding food safety, and therefore the growing demand for minimizing human errors in food processing and packaging.
North America is estimated to be the most important regional marketplace for inspection machines
North America is estimated to account for the largest share of the Market in 2019, closely followed by Europe. Factors like the strong presence of various pharmaceutical & medical device manufacturers and therefore the presence of stringent regulatory frameworks for these manufacturers (including a rise within the number of inspection checkpoints within the production line) and highly monitored inspection standards are driving the expansion of the Inspection Machines Market in North America.
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